Wells Fargo & Company Boosts MGM Resorts International (NYSE:MGM) Price Target to $46.00

MGM Resorts International (NYSE:MGM) had its price target increased by investment analysts at Wells Fargo & Company from $44.00 to $46.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 18.10% from the stock’s current price.

A number of other equities analysts also recently weighed in on MGM. Barclays raised their target price on shares of MGM Resorts International from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley raised their price objective on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a report on Thursday, January 16th. Capital One Financial boosted their price target on MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Mizuho increased their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

MGM Resorts International Trading Up 13.3 %

NYSE:MGM traded up $4.58 during mid-day trading on Thursday, reaching $38.95. 5,172,422 shares of the company’s stock traded hands, compared to its average volume of 4,704,147. The firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 2.94 and a beta of 2.20. The company has a 50 day moving average price of $34.25 and a 200-day moving average price of $36.81. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. On average, sell-side analysts predict that MGM Resorts International will post 2.37 earnings per share for the current year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. CWM LLC increased its position in shares of MGM Resorts International by 8.4% during the third quarter. CWM LLC now owns 10,984 shares of the company’s stock worth $429,000 after acquiring an additional 854 shares during the period. Creative Planning grew its stake in shares of MGM Resorts International by 8.4% during the third quarter. Creative Planning now owns 77,682 shares of the company’s stock worth $3,037,000 after acquiring an additional 6,040 shares during the last quarter. Vontobel Holding Ltd. increased its stake in MGM Resorts International by 37.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 20,426 shares of the company’s stock valued at $798,000 after purchasing an additional 5,611 shares in the last quarter. nVerses Capital LLC raised its stake in MGM Resorts International by 233.3% in the 3rd quarter. nVerses Capital LLC now owns 21,000 shares of the company’s stock worth $821,000 after acquiring an additional 14,700 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its stake in MGM Resorts International by 31.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 6,939 shares of the company’s stock valued at $271,000 after purchasing an additional 1,643 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.